Reviews Trump administration plans sanctions against China's largest chip manufacturer

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Another Chinese tech firm is feeling the consequences of US- China tensions. After taking aim at Huawei, TikTok owner ByteDance, and Tencent, among others, the US government has now placed sanctions on China ' s largest chipmaker, Semiconductor Manufacturing International Corporation

Semiconductor Manufacturing International Corp. and China National Offshore Oil Corp. are among four Chinese companies to be added to a list of firms owned or controlled by the military, Reuters reported, citing a document seen and three unidentified people familiar with the matter.

The Trump administration is apparently planning further sanctions against Chinese companies. Among other things, they should also target China's largest chip manufacturer.

© Ascannio / Shutterstock.com Chip manufacturer SMIC threatened by US sanctions.

The US Department of Defense will put the chip manufacturer SMIC along with three other Chinese companies on a list that identifies them as a supplier for the Army of the People's Republic. This emerges from a report by the Reuters news agency. The change is expected to take effect on January 11, 2021. A decree recently signed by US President Donald Trump prohibits US investors from acquiring shares in companies that are on this list.

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The Trump administration is set to add China ’ s largest chip maker, SMIC, and oil giant CNOOC to its export blacklist, claiming they’re owned or controlled by the Chinese military, Reuters reported Sunday.

The Trump administration is weighing trade restrictions on China that would limit the use of American chip -making equipment, The Wall Street Journal reported The proposed rule comes as the Trump administration looks to cut off China ' s access to the U.S. semiconductors, one of China ' s largest

SMIC is the largest chip manufacturer in China. According to estimates by the market research company Trendforce, the company accounts for around four percent of global semiconductor production. However, experts doubt that the Trump administration's move will have an unduly large impact on SMIC. After of the US sanctions against the Chinese electronics company Huawei came into force in 2019, SMIC withdrew from the New York Stock Exchange. Currently, only a small portion of SMIC shares are likely to be owned by US investors.

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SMIC denies allegations of the US government

Compared to Reuters SMIC explains that the group is in an exchange with the US authorities. Speakers also deny that the chip manufacturer has any relationship with the Chinese military apparatus. All SMIC products are intended exclusively for private individuals and companies.

As early as September 2020, the US Department of Commerce had informed some American companies that they would have to obtain a permit in the future if they wanted to deliver goods and services to SMIC. According to the US Department of Commerce, there is an “unacceptable risk” that equipment delivered to SMIC could be misused for military purposes.

Also interesting: China's chip manufacturers fear further US sanctions